Technical Analysis (TA) and Trading Strategy, I have red envelopes
Current Situation:
PEPE recently broke out of the "bull flag" pattern, a strong signal suggesting a continuation of the uptrend.Current price: 2.451e-09 USDIntraday range: 2.382e-09 USD - 2.593e-09 USD
Key Support and Resistance Levels:
Support: 2.300e-09 USD - 2.400e-09 USDResistance: 2.600e-09 USD - 2.700e-09 USD
Technical Indicators:
RSI (Relative Strength Index): Currently approaching the neutral zone (~50), indicating unclear market momentum.Trading volume: A rise in volume near support levels is needed to confirm buying pressure.
Trading Strategy
1. Entry Point: $PEPE
Support zone: Enter at 2.300e-09 USD - 2.400e-09 USD, where many retail investors have previously shown interest.Trend confirmation: Buy if the price breaks above 2.450e-09 USD with strong trading volume, signaling a bullish move.
2. Take Profit: $PEPE
Short-term target: Take profit at 2.600e-09 USD - 2.700e-09 USD, as this is a potential resistance zone.Long-term target: If the uptrend persists, aim for 3.000e-09 USD - 3.200e-09 USD.
3. Stop Loss: $PEPE
Place a stop-loss order at 2.200e-09 USD or slightly below the support zone of 2.300e-09 USD to mitigate risks if the trend reverses.
4. Risk Management:
Risk-to-Reward Ratio (R:R): Ensure at least a 1:2 ratio to optimize potential profits.Capital allocation: Use only 1-5% of total capital per trade to limit exposure to market volatility.
CODE: 6PGVXFWU